Apr-22 Energy Market News

Tasmania’s average spot price for February was the highest in the NEM, despite exceptionally low demand and accounted for almost half of all FCAS cost for the month. East coast gas spot prices remained high at around $13.50/GJ for the DWGM, and $12.50/GJ in Victoria’s STTM.

February brought no new connections to the NEM. Generator-Weighted Average prices improved for solar and wind across most regions, except QLD. Solar and wind farms continued to face large curtailment. VIC was the dominant energy exporter while TAS was the biggest importer in February.

The Q1-25 spot price continues to struggle to meet pre-summer expectations and the forward market has now resigned to this lower level. The lower Q1 prices have led to the FY-25/26 forward prices also softening in the northern States.